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1MDB made no income from US$1 bil investment in Petro Saudi, says ex-CEO

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He says the company made two payments amounting to US$1 billion to Low Taek Jho's Good Star Limited and to the 1MDB Petro Saudi joint venture account. FMTNews

KUALA LUMPUR: Former 1MDB chief executive officer Shahrol Azral Ibrahim Halmi told the High Court in Najib Razak’s 1MDB trial that there were no returns from the sovereign fund’s RM1 billion investment into the companies purportedly linked to Petro Saudi International.

Shahrol also told the court that 1MDB’s board of directors had asked him, on behalf of the management to get back US$700 million paid to Good Star during 1MDB’s meeting on Oct 3, 2009. He said that since the joint venture with Petro Saudi failed to produce any results, Low and his associate, Casey Tang, suggested to him to end the joint venture.

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This, man should go to jail for being an accomplice to the crime. He is disgusting.

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Source: malaysiakini - 🏆 20. / 51 Read more »